Nigerian Bank Announces Plan to Share over N36m to Customers, Gives Condition to Benefit

• The Nigerian bank has announced plans to distribute over N36 million to customers in its 2024 promo
• However, the reward is not for every customer but for those who meet certain conditions to qualify for the benefit
• First Bank of Nigeria is one of the oldest financial institutions in Nigeria and has a strong customer base

Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.

First Bank of Nigeria has announced it is ready to give out over N36 million to its customers in the second season of its cash out promo.

The promo, according to the bank in a statement is scheduled to run till March 15 2024 and it is open to new and existing customers.

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How the first plans to reward customers

Group Executive, e-Business & Retails Products, FirstBank, Chuma Ezirim, speaking on the promo said:

“We are excited to launch the second season of the FirstMobile CashOut promo which is designed to empower our customers with a wide range of innovative banking solutions at their fingertips on the go. Our goal is to continually enhance our customers overall digital banking experience and satisfaction. The promo gives us an opportunity to reward and celebrate our esteemed customers’’

The statement also explained that leading up to the grand finale, there is N1 million to be won.

It added that the promo comprises three categories, offering N10,000 worth of airtime and data, N20,000 and N100,000.00, respectively.

How the winners will be picked?

In the first category, 100 lucky customers will win N10,000 worth of airtime and data each week for completing a minimum of five transactions on the bank's mobile app, Punch reports.

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In the second category, 100 lucky customers will win N20,000 each for carrying out a minimum of ten transactions weekly, and 50 lucky customers who carry out 25 transactions each month will be rewarded with N100,000 each.

The promo culminates in the grand finale draw as two lucky customers with a minimum of 50 transactions will win N1m each.

First Bank also said that dormant and inactive account holders can become eligible once they reactivate their dormant accounts.

CBN sets rule for dollar sale by banks

Legit.ng reported that the Central Bank of Nigeria (CBN) has paved the way for banks to sell foreign exchange at rates they deem fit in plans to stabilise the naira.

CBN’s director of the financial markets department, Omolara Omotunde, disclosed this in a circular addressed to all authorised dealers.

Omotunde said the bank has decided to discontinue any restrictions on the sale of interbank proceeds.

Source: Legit.ng